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INFY » Topics » Gain on Sale of Long Term Investment

This excerpt taken from the INFY 20-F filed Apr 26, 2005.

Gain on Sale of Long Term Investment

 

In fiscal 2005, we sold our investment in Yantra Corporation. The carrying value of the investment in Yantra Corporation was completely written down in fiscal 1999. Consideration received from the sale resulted in a gain

 

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of $11 million. There is a further consideration of $1 million, subject to contractual contingencies, receivable by April 2006. No gain has been recognized on the contingent portion.

 

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